Traveler’s checks have become extinct as the dinosaurs. Already have an alternative to credit cards

Integrated wireless technology of high-frequency communication allows using your smartphones as a means of payment and even replacing the bank cards. Short-range communication (about 10 cm) allows the phone and reader to share billing information. It is assumed to equip with such devices the major retailers such as American Eagle Outfitters, Macy`s Inc. and the Subway. In 2012 USA mobile operators want to run a joint platform for mobile payments ISIS. In turn, Bank of America, JPMorgan Chase and Wells Fargo are creating the national system of electronic payments clearXchange, which will allow money transferring knowing only cell-phone number and e-mail of recipient. Presumably, this will simplify the execution of transfer compared to traditional tracking, execution and controlling the transaction by the system of the banks of the US Federal Reserve. In the Gulf countries they have even decided to give up within the 5 years of debit and credit cards, because they are no longer safe.
In Ukraine, mobile-banking is mostly SMS-banking, around the clock system monitoring the movements of funds on the card account. In some cases, you can not only check your account balance, but also lock/unlock the card, pay bills, transfer money to another card by sending the SMS. The development of this market is hampered by the low internet penetration in regions. In addition, approximately 90% of all cards operations account for cash withdrawal at ATM’s. ATM’s for smartphones yet no one offers.